This paper introduces a new parametric measure of productivity change using the hyperbolic distance function. More specifically, the paper first estimates a stochastic translog hyperbolic distance function, which satisfies regularity conditions, using the Bayesian approach. Then it derives an...

Owning to the success of the Grameen Bank and other microfinance institutions in recent years, microfinance institutions' role as a potential policy tool in poverty alleviation has received considerable attention. Empirical evidence from existing research shows some positive results in poverty...